That loss includes the costs to train the future models.
Like Dario/Anthropic said, every model is highly profitable on it's own, but the company keeps losing money because they always train the next model (which will be highly profitable on it's own).
But even if you remove R&D costs, they’re still billions of dollars short of profitability. That’s not a small hurdle to overcome. And OpenAI has to continue to develop new models to remain relevant.
Like Dario/Anthropic said, every model is highly profitable on it's own, but the company keeps losing money because they always train the next model (which will be highly profitable on it's own).